It's important for executive management to focus on digital transformation, metaverse, innovation, and date security to thrive in the Web 3.0 era.
As I recently mentioned in a Forbes Business Council article, we are currently experiencing the transition from the fourth industrial revolution to the fifth. I believe a large-scale digital transformation process will profoundly reshape the global business ecosystem and impact our economy, as well as our society. The global technology landscape is evolving rapidly, with converging technologies triggering an evolution from web 2.0 to a trustless and permissionless Web3.0. The World Economic Forum’s Web3 Foundation describes web 3.0 as the next generation internet where: users own their own data, not corporations; global digital transactions are secure; online exchanges of information and value are decentralized
While we are currently witnessing a nascent Web3.0 and multiple single Metaverses being built by forward thinking companies, the global landscape is evolving rapidly. As recently published by Gartner, the Metaverse will evolve across three overlapping phases: emerging, advanced and mature. Distinctive shifts in technology, markets and products/services will characterize each phase and we are not likely to achieve web 3.0 and Metaverse maturity before 2030. A mature web 3.0 ecosystem is likely to ultimately power multiple Metaverses or perhaps even One Global Metaverse™?
Several organizations, such as EY, McKinsey & Company, PwC, Deloitte, Accenture, Boston Consulting Group (BCG) have emphasized the massive economic and societal transformation power of both Web3.0 and Metaverse markets. The Metaverse global market was valued at USD 22.79 billion in 2021, has raised $120B in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 39.8% during 2022-2030.
What management styles can leaders deploy to manage the challenges of a volatile, high-risk and, potentially high-reward transformation journey? How will they reconfigure their leadership DNA to adapt to this new Web 3.0 Era?
Metaverse-Leaders will need to be agile and embrace a moonshot mindset to be successful in this evolving global ecosystem. They have a powerful quadrium of management styles that they can choose to deploy depending on the business ecosystem they must navigate. By combining and leveraging the attributes of design thinking, exponential thinking, abundance thinking, and systems thinking, leaders can be better positioned to steer their company through the uncharted Metaverse territory. Additionally, they might find it useful to apply lean six sigma, kaizen and gemba techniques.
Mindful leaders that wish to trigger a leadership renaissance for The Global Metaverse Ecosystem, might want to review the historic impact of the Medici effect and valuable physics lessons that illustrate the Butterfly effect. The Medici Effect highlights how increased creativity and innovation can occur through diversity, while the Butterfly effect emphasizes how small changes leaders decide to make can have a non-linear impact on the complex ecosystem.
Emerging leaders will be expected to maintain their integrity and authenticity, while becoming champions for building a sustainable, diverse and inclusive Global Web3.0 -powered Metaverse Ecosystem.
Ingrid Vasiliu-Feltes, MD MBA Is a healthcare executive, futurist and globalist who is highly dedicated to digital and ethics advocacy. She is a Forbes Business Council member, digital strategist, passionate educator and entrepreneurship ecosystem builder, known as an expert speaker, board advisor and consultant. Throughout her career she has received several awards for excellence in research, teaching or leadership. She is the recipient of numerous awards most notably: WBAF World Excellence AwardSocial Entrepreneurship 2021, Top 20 Global Leaders in Digital Twins Technologies, Top 50 Global Leaders in Health Tech,Top 50 Global Ecosystem Leaders, Top 100 Visionary In Education Award 2021, Top 100 Global Women in Leadership Award 2021, Top 100 World Women Vision Award, 2021-Innovation & Tech, Top 100 Women in Social Enterprise 2021 (nominee),Top 50 Global Thinkers (Nominee),Nations of Women Change Makers Award(finalist),Top 100 Healthcare Leader 2020 Award, Top 100 Finance Leader 2020 Award, and Top 100 Women in Crypto 2020. Additionally, she serves as an Expert Advisor to the EU Blockchain Observatory Forum, and was appointed to the Board of UN Legal and Economic Empowerment Network. Dr. Vasiliu-Feltes is CEO of Softhread Inc., the Founder and CEO of The Science, Entrepreneurship and Investments Institute, and currently serving as a Country Director for WBAF USA, Senator of WBAF, Faculty Member of the WBAF Business School-Division of Entrepreneurship, and teaching the Executive MBA Business Technology Course at the UM Business School. She is also acting as the Chief Innovation Officer for the Government Blockchain Association. Most recently she served as President of Detect Genomix, Chief Quality and Safety Officer Chief and Innovation Officer for Mednax, Chief Quality and Safety Officer and Chief of Compliance for the University of Miami UHealth System During her academic tenure she taught several courses within the Medical School, as well as the combined MD/PhD and MD/MPH programs. Throughout her career, Dr. Vasiliu-Feltes held several leadership positions and is a member of numerous prestigious professional organizations. She holds several certifications, such as Bioethics from Harvard, Artificial Intelligence and Business Strategy from MIT Sloan, Blockchain Technology and Business Innovation from MIT Sloan, Finance from Harvard Business School, Negotiation from Harvard Law School, Innovation and Entrepreneurship from Stanford Graduate School of Business, Certified Professional in Healthcare Risk Management, Fellow of the American College of Healthcare Executives, Patient Safety Officer by the International Board Federation of Safety Managers, Master Black Belt in Lean and Six Sigma Management, Professional in Healthcare Quality by the National Association of Healthcare Quality, Manager for Quality and Organizational Excellence, by the American Society for Quality, and Certified Risk Management Professional by the American Society for Healthcare Risk Management. Additionally, Dr. Vasiliu-Feltes is an Honorary Advisory Board Member of several companies, as well as an Editorial Board Member for several international publications, an author and TV/Media partner.